The Tinkler thread

mozza said:
I know when the government siezed my private jet and helicopter it was a rough time. But somehow I managed to survive.
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I wish it was that simple.

He supposedly has a 400m share in Whitehaven which is said to be safe. The rest of his reported 1.1b fortune was over extended and at risk, that is what the papers are saying he has lost

Now there is speculation that he so far in the red that he may have borrowed against even his Whitehaven shares originally worth 400m. If you look at the evidence, it seems like he has. Why would someone worth $400,000,000 have his helicopter repoed?? Why has he had to sell most of his private training stable farm/racing empire

The guy is in big trouble, there's no way around it. The issue for us is that he owes us 20mil and it doesn't take a genuis to realise that if he can't afford a petty helicopter (to the tune of 300,000) why would he ever hand over 20m to a football club??

He will put the money where ever he needs to to avoid paying us, it isnt difficult to do. If you guys aren't worried then I am envious
 
I was joking. We know very little about what is actually happening. Words like 'supposedly' and 'speculation' emphasize that. All I know is that the club will survive with or without Tinkler.
 
That $20 million (or $10 million after the 1st of Jan, or the audit) is a bank guarantee, which means it is held at the bank, and if he defaults on his payments to us then the bank will pay us the money. There was a delay when he initially bought us while he made that payment to the bank.

I dunno about you all, but if my business was struggling, the helicopter and jet would be the first thing I'd get rid of. They're hardly necessities.

We'll be fine if he goes down ... but I sure hope that doesn't happen. He's done so much for sport in Newcastle, not just the Knights.

Thank goodness he bought us when he did, because it wouldn't be happening now, and we'd be screwed.
 
http://www.theherald.com.au/story/1...out-to-resolve-bank-guarantee-impasse/?cs=306

So, HSG want to delay the annual audit, which is part of the agreement, until the 15th of Feb next year. The club board won't agree to this unless HSG also extends the $20 million bank guarantee until that time (the $20 million dropping to $10.3 million after this initial audit). If this isn't done, then the club board could possibly trigger the buying back of the club. If the audit is done, and HSG hasn't topped up the 2012 sponsorship to $10 million and paid $2.5 million to juniors, then they could definitely begin the process to buy the club back for $1.

I find this all quite straightforward enough to follow, apart from one thing. Who is this Nick Dan guy, and why does he have such a poor relationship with Troy Palmer/HSG? Does anyone know the background on all this?

I hate to think that the future of our club could be influenced by people who aren't on speaking terms due to some personal dramas.
 
The interesting thing is what happens to the Jets?
We know the Knights have the bank guarentee and have other backers ready to step in, but the Jets might not have a clear future.
 
As much as we all don't want to admit it. This WILL impact our players and how they perform, I sincerely hope they get their **** sorted before kickoff.
 
Jets will be fine.
FFA just signed a lucrative TV rights deal and will take over the Jets if a buyer doesn't come forward.
 
Tinks has no real income.
Whitehaven coal is where most of his money is tied up, and because of the drop in coal prices and because they are committed to a big expansion, they have decided to not pay dividends at present. Tinks tried to get this decision overturned, but he failed to get the numbers (he is the largest shareholder but owns way less than 50%).
Basically, when he actually has to come up with cash he has to sell some Whitehaven shares, and because they are not paying dividends at present they are selling for far less than they are worth in the long term.
His other way of getting cash is to flog off parts of his racing business, but no one will give him a fair deal on that either.
 
If any of the Jets players are sleeping easy at night they must have a pretty good prescription.

Soccer(No not football soccer) bores me to tears but even I feel for them.
 
Speculation in the telegaph that Burraston could be back as CEO if Tinks falls over - and also that the easiest way to cut costs is to axe Bennett who is signed to a 1 mill a year contract to HSG, while all the players are on contracts registered to the NRL.
I don't think i'd be worried if Stone took over as coach, but if Bennett left we would also lose all our training staff, and since we got rid of all our other trainers to new jobs, we would be up **** creek if we finished the pre season with Stone and a makeshift staff.

We would be in a decent financial position - the stadium debt is all HSGs, so we would start debt free, with a big stadium to fill, a good team all signed up, extra money from the NRL, and we could sell all the sponsership again.

The juniors worry me. We have signed a lot of quality juniors for under 20s and under 19s and we have been giving them a much better standard of coaching and training. If Tinks pulls out the 2.5 mill he is spending on juniors, I could see at least 10 kids going in a blink.
 
Thats the part that worries me the most to. If Tinkler leaves then I beleive that Bennett will leave to.

Yes the club will be fine with or without Tinkler but we really do need Bennett here for the next 3 years
 
Billy said:
Speculation in the telegaph that Burraston could be back as CEO if Tinks falls over - and also that the easiest way to cut costs is to axe Bennett who is signed to a 1 mill a year contract to HSG, while all the players are on contracts registered to the NRL.
I don't think i'd be worried if Stone took over as coach, but if Bennett left we would also lose all our training staff, and since we got rid of all our other trainers to new jobs, we would be up **** creek if we finished the pre season with Stone and a makeshift staff.

We would be in a decent financial position - the stadium debt is all HSGs, so we would start debt free, with a big stadium to fill, a good team all signed up, extra money from the NRL, and we could sell all the sponsership again.

The juniors worry me. We have signed a lot of quality juniors for under 20s and under 19s and we have been giving them a much better standard of coaching and training. If Tinks pulls out the 2.5 mill he is spending on juniors, I could see at least 10 kids going in a blink.
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Gee's Roopy me and many others maybe eating humble pie, did Burro see the writing on the wall all along that Tinkler was a flimsy on paper billionaire at best????

RE sacking Bennett short of us paying out his contract will never happen, his SIGNED for 4 years.

Also your right if Bennett, left we might as well forfeit next year.
 
Remember Bond , Skaife ,Holmes-a-court all lost everything but all had 10s of millions put away when they lost there companies i bet tinklers no different.
Besides that Tinkler is,nt putting all the money into the club our sponsors put most of it there we averaged $7 mill a year without him or his companies . Also we now have no Debt which Burro put us in and which was 5 times what he told us it was .
 
I'm yet to see how this has affected the Knights in any way shape or form yet, it's all just speculation. He's still our owner, he's still paying our bills and putting in the millions for us, he has my support all the way!
 
Oh and Bennett did'nt sign to work for Tinkler he signed with the Newcastle Knights so he would have to break that to leave ....he does,nt seem like the kind of guy that would do that to me .
 
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